Nigerian Stock Market hits N71 Trillion as Investors Eye Dividen–Driven Stocks

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The Nigerian equities market continued its upward trend, with the overall capitalisation surpassing N71 trillion. The All-Share Index rose by 0.32% to close at 112,781.73 points, driven by price appreciation in large and medium-capitalised stocks.

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Analysts at Vetiva Dealings and Broking said, “Tomorrow’s session is likely to hinge on dividend-driven flows. With several counters approaching qualification dates, expect selective buying to underpin prices.”

Afrivest noted, “Investor sentiment, as measured by market breath, improved to 0.15x (previously: 0.07x) as 32 stocks gained, 21 lost while 75 were unchanged. Tomorrow (today), we expect a mild bearish performance on the back of profit-taking activities.

The oil and gas sector has been the worst-performing index on the NGX since the beginning of the year, posting a year-to-date (YTD) loss of 13.38%. Despite delivering an exceptional 170% overall return in the 2024 financial year, the sector has lost momentum and returned to negative territory.

According to Patrick Ajudua, president of the New Dimension Shareholders Association of Nigeria, “Oil and gas stocks have shown relative price stability, largely driven by dividend declarations from key players such as Seplat and renewed investor interest sparked by interim payouts.”

Ajudua expressed optimism that with improved pricing, greater focus on cost optimization, and stronger government commitment to securing pipeline infrastructure, oil and gas stocks are likely to witness a significant rebound in the near future

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